| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 83rd | Best |
| Demographics | 51st | Fair |
| Amenities | 96th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1140 Elm Ave, Glendale, CA, 91201, US |
| Region / Metro | Glendale |
| Year of Construction | 1986 |
| Units | 26 |
| Transaction Date | 2007-07-25 |
| Transaction Price | $3,304,500 |
| Buyer | VARU NARAN |
| Seller | KLETTKE ULRICH D |
1140 Elm Ave Glendale CA Multifamily Investment
Neighborhood metrics point to a deep renter base and steady occupancy, according to WDSuite’s CRE market data, suggesting durable demand drivers at the submarket level. These signals reflect neighborhood conditions, not the specific property.
Located in Glendale’s Urban Core, the neighborhood ranks competitive among Los Angeles-Long Beach-Glendale neighborhoods (161 out of 1,441), reflecting a balanced mix of demand drivers and livability. Amenity access is a clear strength, with grocery, pharmacy, and dining density placing the area in the top quartile nationally, supporting resident convenience and lease retention.
The property’s 1986 vintage is newer than the neighborhood’s average construction year (1976), which typically enhances competitive positioning versus older stock. Investors should still anticipate targeted modernization for systems and common areas as part of long-term capital planning, but relative age can reduce near-term obsolescence risk.
Occupancy in the neighborhood is above the national median, and the renter-occupied share is elevated (measured for the neighborhood), indicating depth in the tenant base and potential stability for multifamily assets. Within a 3-mile radius, population has been broadly stable while household counts increased, expanding the pool of households and supporting renter demand; projections show further household growth alongside smaller average household sizes, which can translate into a larger renter pool and support for occupancy.
Housing costs skew high for ownership in this location, with home values well above national norms and a high value-to-income ratio. This high-cost ownership market tends to sustain reliance on multifamily housing, reinforcing pricing power when paired with effective lease management. At the same time, rent-to-income levels signal some affordability pressure, suggesting owners should prioritize renewal strategies and amenity positioning to support retention.
Comparable safety metrics for this neighborhood are not available in the current dataset. Investors typically benchmark neighborhood-level trends against city and metro sources to assess directional changes and management implications. As with any infill Los Angeles location, underwriting should incorporate local law enforcement and municipal data, property-specific incident history, and security design to align with tenant expectations.
A nearby concentration of media and communications employers supports commuter convenience and a stable renter base. The list below highlights key organizations within a short drive that can influence leasing demand and retention.
- Disney — entertainment studios (2.3 miles) — HQ
- Avery Dennison — materials & packaging (2.5 miles) — HQ
- Radio Disney — media offices (3.2 miles)
- Charter Communications — telecommunications (3.3 miles)
- Live Nation Entertainment — entertainment offices (5.9 miles)
This 26-unit, 1986-vintage asset benefits from strong neighborhood fundamentals: high amenity access, an elevated renter-occupied share, and occupancy that trends above national medians. According to CRE market data from WDSuite, NOI per unit levels in the area are competitive nationally, and ownership costs are elevated, which typically sustains renter reliance on multifamily housing. The vintage is newer than average locally, offering relative competitiveness, with scope for value-add through selective modernization to enhance durability of rents.
Within a 3-mile radius, household counts have grown and are projected to expand further even as average household sizes trend lower. That pattern generally supports renter pool expansion and occupancy stability, particularly for well-located, mid-size units. Affordability pressure is present, so proactive renewal strategies, amenity calibration, and expense discipline are important to maintain pricing power and retention.
- Newer-than-neighborhood vintage (1986) supports competitive positioning with manageable modernization needs.
- Elevated neighborhood renter-occupied share and above-median occupancy underpin demand depth for multifamily.
- High-cost ownership market reinforces sustained reliance on rentals, aiding lease-up and retention.
- Amenity-rich Urban Core location near major employers supports leasing velocity and tenant retention.
- Risk: rent-to-income pressure and softening in select demand indicators require disciplined lease management and expense control.